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Price Fixing on LCD Screens for Mobile Phones

Posted by: , 13:46 AEDT, Sat December 12, 2009
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Some of the world's largest LCD makers have been caught in price fixing scandals paying fines in excess of $540 million dollars

In the 4th quarter of 2008, Sharp, LG, and Chunghwa Picture Tubes all plead guilty to price fixing and paid fines totaling $548 million to the U.S. Justice Department.

The price fixing scheme ultimately ended with some of the executives involved going to prison here in America but it appeals its still going on. 

This month Nokia announced that it too was filing suit against some of the same companies for alleged price fixing in the mobile phone industry.

So far, six companies have plead guilty or agreed to plead guilty for their roles in the scheme.


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